Broxus announced the completion of the rebranding of the company’s products. Firstly, the need for rebranding was due to the rebranding of the Everscale network, for which the Broxus team developed products. However, the team could not simply change the names of their developments, since a lot of things were tied to domains inside the smart contracts of the products. In other words, for rebranding, all smart contracts had to be redeployed. This led to big changes and improvements in products in general. Secondly, the rebranding was necessary due to the upgrade of the TIP-3 token standard to TIP-3.1. The transition to the new standard also affected Broxus products. The update itself was carried out so that the products of all Everscale developers had one standard. Thus, the Broxus team did not just change the names of their projects, but introduced new products.

New Broxus Products

• TON Bridge → Octus Bridge: the name comes from the fact that the bridge is a connector with many hands (similar to an octopus). The Octus Bridge is an essential tool for users looking to navigate the fragmented DeFi space on their own terms.
• TON Swap → FlatQube: The name of the new DEX is based on a six-sided cube, where each side has its own DEX. FlatQube is the cornerstone of this structure, where the liquidity pool is located that allows each DEX to operate. FlatQube is a new DEX where users need to bring in tokens to upgrade them and reintroduce them into farming pools.
• WTON → wEVER: a wrapped token that will be used to interact with new products.

Также будут изменены названия Telegram чатов и каналов, связанных с работой Broxus.

Application of the QUBE token

In its roadmap, Broxus wrote that the new exchange (FlatQube) will be transformed into a DAO and issue its own token. There is no information about the tokenomics of QUBE yet, but one thing we know for sure: Broxus will release a token with real use. We have collected the use cases that seem most likely to us.

DAO management. Since the exchange will be transformed into a DAO, some mechanism will be needed to make decisions about changing the size of commissions, listing new tokens, etc. We expect that voting will be implemented using project tokens similar to the BRIDGE DAO.

Trading commissions. For the exchange on the exchange, there is a commission fee (currently 0.3%), which is collected in one of the exchange tokens. This fee may be collected in the QUBE token in some or all pairs. Exchange users will need to have QUBE on their balance to make exchanges, thereby increasing the demand for the token.

Listings. In addition to the requirements for new projects (the presence of a website, the presence of a pair with a whitelisted token, etc.) that want to be listed on the exchange, a listing fee can be set, which is paid by the exchange tokens.

Farming. Obviously, with the new token, liquidity pools will be created for the possibility of buying and selling it. We expect that the farming reward for providing liquidity in these pairs will be in the QUBE token. Moreover, we believe that EVER farming will end in 2022 in whole or in part. Now more than 4,000,000 EVER are accrued monthly under the pharming program. Farming has been going on for 8 months, and the DeFi Alliance does not have infinite resources. The reward in farming must either be seriously diluted with other tokens (for example, double farming: with a yield of 100%, 20% is credited in EVER, and the remaining 80% in another token), or completely transferred to another token. This token can become an exchange token.

It is still unknown whether the pre-sale of the token is planned and whether it will be public, or whether these will be private rounds by analogy with BRIDGE. Follow EverKit on social media for this information.